The Steel Ministry approved as many as 83 R&D projects worth Rs 696.27 crore in 2014-15 as it aims to expand the industry's product portfolio and help it maintain long-term sustainability.
The government is encouraging public sector undertakings and private firms in the steel sector to work on research and development (R&D) projects, particularly on problems relating to utilisation of low grade ore and high ash coal, a senior official said.
Besides, thrust is also being given to develop more value added products for which the country is mostly dependent on imports, the official added.
To promote R&D in steel, the government constituted an Empowered Committee (EC) under Steel Secretary for approval and monitoring of R&D projects, another official said.